Evercore ISI Trims AutoZone (NYSE:AZO) Target Price to $3,350.00

AutoZone (NYSE:AZO) had its target price reduced by Evercore ISI from $3,900.00 to $3,350.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective suggests a potential upside of 10.19% from the company’s previous close.

Several other research firms also recently commented on AZO. StockNews.com upgraded AutoZone from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research report on Wednesday, June 26th. Barclays dropped their target price on AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research report on Thursday. Finally, Guggenheim increased their target price on AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $3,117.12.

AutoZone Stock Down 1.1 %

AZO opened at $3,040.09 on Friday. The stock’s fifty day moving average is $3,103.78 and its two-hundred day moving average is $3,011.83. The company has a market capitalization of $51.93 billion, a P/E ratio of 21.03, a PEG ratio of 1.45 and a beta of 0.71. AutoZone has a 52 week low of $2,375.35 and a 52 week high of $3,256.37.

Institutional Investors Weigh In On AutoZone

Large investors have recently made changes to their positions in the stock. Clearbridge Investments LLC boosted its position in shares of AutoZone by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 6,179 shares of the company’s stock worth $15,976,000 after buying an additional 179 shares during the period. D.A. Davidson & CO. boosted its position in shares of AutoZone by 27.3% during the fourth quarter. D.A. Davidson & CO. now owns 807 shares of the company’s stock worth $2,087,000 after buying an additional 173 shares during the period. Assetmark Inc. boosted its position in shares of AutoZone by 10.0% during the fourth quarter. Assetmark Inc. now owns 1,459 shares of the company’s stock worth $3,772,000 after buying an additional 133 shares during the period. WBI Investments LLC purchased a new position in shares of AutoZone during the fourth quarter worth $225,000. Finally, Hohimer Wealth Management LLC boosted its position in shares of AutoZone by 1.4% during the fourth quarter. Hohimer Wealth Management LLC now owns 366 shares of the company’s stock worth $946,000 after buying an additional 5 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.